Iran hosts senior IMF official as sanctions ease

David Lipton is meeting senior government and industry figures a year after the lifting of sanctions on Tehran.

1 min read

15 May, 2016

The lifting of sanctions on Iran has led to increased oil production [Getty]

The International Monetary Fund said on Sunday that its second in command was on a two-day visit to Iran for discussions on economic developments.

The Washington-based lender said First Deputy Managing Director David Lipton would meet with senior Iranian government officials, private sector representatives and bankers, as well as academics and students.

The visit follows the lifting of sanctions linked to Iran's nuclear programme in the wake of a landmark deal between Tehran and world powers signed in July.

"His discussions will focus on the IMF's continuing dialogue with Iran, and Iran's economic developments and policy initiatives, following the recent lifting of sanctions," the IMF said in a statement.

The IMF currently does not have an economic programme underway in Iran aside from statistical and technical assistance, according to a spokesman.

"The recent lifting of economic sanctions is expected to help increase oil production and exports, and lower costs for trade and financial transactions," the IMF wrote in a January "economic health check" of Iran, adding that its real GDP growth was projected to accelerate to 4 to 5.5 percent in 2016-17.